TPI Composites (NASDAQ:TPIC) Stock Price Crosses Below Fifty Day Moving Average - Should You Sell?

TPI Composites, Inc. (NASDAQ:TPIC - Get Free Report)'s share price crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $4.16 and traded as low as $3.38. TPI Composites shares last traded at $3.46, with a volume of 350,306 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TPIC shares. Jefferies Financial Group started coverage on shares of TPI Composites in a research report on Thursday, October 17th. They set a "hold" rating and a $5.00 price objective for the company. Evercore ISI upgraded shares of TPI Composites to a "strong-buy" rating in a report on Monday, August 12th. Bank of America increased their price target on shares of TPI Composites from $5.00 to $6.00 and gave the company a "buy" rating in a report on Wednesday, July 17th. Piper Sandler increased their price target on shares of TPI Composites from $3.50 to $3.70 and gave the company a "neutral" rating in a report on Monday, August 12th. Finally, JPMorgan Chase & Co. increased their price target on shares of TPI Composites from $8.00 to $9.00 and gave the company an "overweight" rating in a report on Tuesday, July 16th. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $5.08.

TPI Composites Price Performance

The firm has a market capitalization of $163.45 million, a price-to-earnings ratio of -0.75 and a beta of 1.91. The firm's 50-day moving average price is $4.16 and its 200 day moving average price is $4.06.

TPI Composites (NASDAQ:TPIC - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The industrial products company reported ($1.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($0.54). The company had revenue of $309.82 million for the quarter, compared to analyst estimates of $313.76 million. On average, analysts predict that TPI Composites, Inc. will post -2.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TPI Composites

A number of large investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC purchased a new position in TPI Composites during the second quarter worth approximately $1,421,000. Susquehanna Fundamental Investments LLC raised its stake in TPI Composites by 8.0% during the second quarter. Susquehanna Fundamental Investments LLC now owns 115,644 shares of the industrial products company's stock worth $461,000 after purchasing an additional 8,550 shares during the period. Marshall Wace LLP raised its stake in TPI Composites by 22.5% during the second quarter. Marshall Wace LLP now owns 83,638 shares of the industrial products company's stock worth $334,000 after purchasing an additional 15,369 shares during the period. Interval Partners LP purchased a new position in TPI Composites during the second quarter worth approximately $235,000. Finally, DRW Securities LLC purchased a new position in TPI Composites during the second quarter worth approximately $718,000. Hedge funds and other institutional investors own 75.24% of the company's stock.

About TPI Composites

TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers (OEMs) in the United States, Mexico, Europe, the Middle East, Africa, and India. It also provides composite solutions for the automotive industry; and field service inspection and repair services comprising diagnostic, repair, and maintenance services for wind blades to OEM customers, and wind farm owners and operators.